2025 (6) TMI 1060

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....nt : Mr. Soumen Bhattacharjee, Adv., Mr. Ankan Das, Adv. and Ms. Shradhya Ghosh, Adv. For the Respondent : Mr. J.P. Khaitan, Sr. Adv., Mr. Souran Chunder, Adv. and Mr. Nilanjan Bhattacharya, Adv. ORDER The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 [the Act] is directed against the order dated 3.10.2023 passed by the Income Tax Appellate Tribun....

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....e assessee company during the financial year 2016-17, being the year of accrual of income as per the accepted norms of accountancy? We have heard Mr. Soumen Bhattacharjee, learned standing counsel for the appellant and Mr. J. P. Khaitan, learned senior advocate for the respondent. The learned tribunal allowed the assessee's appeal and set aside the order passed by the Commissioner of Income ....

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....justment of the excess amount of electricity dues paid for the preceding three years namely, 2017-18, 2018-19 and 2019-20. The assessing officer was of the view that the assessee ought to have declared the amount received from the M.P. State Electricity Board as income for the assessment year 2017-18 and, accordingly, made addition which was affirmed by the appellate authority. The learned tribuna....

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....the total amount receivable by the assessee from the M.P. State Electricity Board. Therefore, the tribunal came to the conclusion that on facts it would tantamount to double addition in the case of the assessee because the same has already been offered to tax during the assessment years 2018-19 and 2019-20 in terms of the direction issued by the Hon'ble Supreme Court in its order dated 10.11.2016.....